HIVE Digital posts $79.1 million fiscal Q1 2027 revenue, up 73.5% year over year
AI Market Summary
HIVE posted strong fiscal Q1'2027 revenue growth, led by a sharp rise in Bitcoin mining revenue as output and hash rate scaled materially, while its BUZZ AI/HPC unit accelerated on a new NVIDIA GPU cluster and expanded contracted GPU cloud run-rate. However, a large noncash Swedish VAT provision drove a sizable net loss, tempering equity sentiment despite positive adjusted EBITDA and a sizable cash balance.
Impact level
● Medium
Affected assets
HIVE/USDT-2.17%
AI Insight · HIVE/USDTAI Insight
● Neutral
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HIVE Digital reported fiscal Q1 2027 revenue of $79.1 million, up 73.5% from a year earlier. Bitcoin mining revenue rose 77% to $72.1 million as the company produced 1,004 bitcoin and averaged 24.0 EH/s of hash rate. Its AI unit BUZZ generated $7.1 million in revenue, up 52% quarter over quarter, supported by a new NVIDIA GPU cluster in Manitoba. The company has raised $100 million for GPU purchases and data center expansion and is targeting $200 million in AI revenue by the end of 2026.
